AP
- Apple is in danger of losing its $ 1 trillion market cap.
- Shares in Apple slid as much as 7% or more in after-hours trading, following its quarterly earnings report.
- Investors may have been spooked by a big miss on iPhone sales, as well as a soft revenue forecast for the next quarter.
- Still, after-hours trading doesn’t officially affect a company’s market cap, and it all comes down to what happens on Friday morning when markets are open again.
Wall Street was unimpressed with Apple’s quarterly earnings results, announced on Thursday — so much so, that shares plunged over 7% after the bell, putting Apple in danger of losing its much-vaunted market cap of $ 1 trillion.
At the time of writing, Apple stock is priced at $ 206.30 in after-hours trading, and still moving around. Should that price hold through the opening bell on Friday, Apple will have a market cap below that $ 1 trillion threshold. The threshold is $ 207.45; any Apple share price less than that will value the company below that line.See the rest of the story at Business Insider
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